The traditional model of compliance review services has always been to randomly select and review documents and compare them to known standards and templates that reflect an optimal version of what that document should look like. But is that enough? When parents look to best help their children prosper in the world, they rely on [...]
Neither AffirmX nor its independent solutions sister company, AdvisX have direct relationships with Policy Pro or CU Policy Works. Those solutions as we understand them, among others that are similar are templated policies that are provided in Word format to credit unions to adapt and adjust for their own needs. While this can be [...]
With shifting requirements coming from constant updates, community-based financial institutions typically find it hard to stay up to date. This, when combined with dwindling profits due in part to lower interest rates and other economic factors, puts stress on an organization’s ability to pay high-priced consultants to assist in staying ahead of the curve. There [...]
There are several compliance support tools on the market for community banks and credit unions to use. Some such tools are ComplyTrack, Continuity Control, and Compliance 360. These tools can be useful for organizing a financial institution around scheduled and regimented reviews of their bank’s or credit union’s compliance policies and the compliance readiness of [...]
AffirmX is a compliance, IT vulnerability and enterprise risk support solution for financial institutions (banks and credit unions). In each of these areas, AffirmX uses our CRISP℠ technology platform to communicate with clients about the exchange of information and review of documents, reports, materials and related items, as well as to run tests and conduct [...]
The answer is generally no. AffirmX’s platform supports the asynchronous communication we use with our clients to promote efficiency, it uses algorithms to calculate risk and prioritize requests, it presents and supports the dashboard and assessment questionnaires, custodies the file vault and manages data flow. Our compliance experts, many of whom were examiners for regulatory [...]
AffirmX has many solutions offered to banks and credit unions. They are based on the type of service needed, the asset size of the financial institution making the purchase, and, to some degree, the suite of products offered by the financial institution to its customers. For instance, if no mortgages or credit cards are offered, [...]
There are many solutions that support a financial institution’s efforts to remain in compliance. Until the launch of the CRISP℠ Platform from AffirmX, the options fell into three basic categories. The first was simply an online information site like InfoSight. The second was a software tool of some sort like Continuity Control and Comply Track. [...]
InfoSight and AffirmX have had many discussions about the value of the AffirmX compliance solution and how it provides a new dimension to the process of staying compliant and could enhance InfoSight's online compliance website. While we can neither confirm nor deny that any such agreements around the acquisition of AffirmX were discussed, we can [...]